Litecoin retreated below $44.00 after a strong reovery in Asia. The critial resistance of $45.00 separats the coin from an extended upside move. Litecoin (LTC) is moving within a short-term downside bias after a failed attempt to settle above $44.00. The coin is trading at $43.95, mostly unchanged both since the start of the day and on a day-to-day basis, off the recent high reached at $44.65. Litecoin is the seventh largest digital asset with the current market value of $2.8 billion and an average daily trading volume of $1.5 billion. LTC/USD: Technical picture On the intraday charts, LTC/USD has settled in the lower part of the Bollinger Band amid growing bearish pressure. The RSI on 1-hour chart points downwards, which means that the correction may be extended towards the local support created by 1-hour SMA50 at $43.70. This area served as a strong channel resistance zone and now has a potential to stop the sell-off. If it is broken, LTC/USD will return inside the previous range with the next short-term support at $43.00. On the upside, we will need to see a sustainable move above $44.00. The next resistance is created by the recent high of $44.65. Once it is out of the way, the recovery may be extended towards $45.00. LTC/USD 1-hour chart On the daily chart, LTC/USD is supported by SMA100 located on approach to the above-mentioned support of $43.00. This technical barrier has limited the sell-off since June 11, as numerous attempts to break below this level were heavily bought. The next support lines come at $41.50 and psychological $40.00. The later barrier is reinforced by May 11 low at $39.50. The daily SMA50 and the middle line of the Bollinger Band add strength to the above-mentioned resistance of $44.65. A sustainable move above this area will open up the way to $50.00 with daily SMA200 located on approach. This MA stopped the recovery earlier this month and may be a hard nut to crack for the bulls. LTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD clings to small daily gains above 1.3500 ahead of US data FX Street 2 years Litecoin retreated below $44.00 after a strong reovery in Asia. The critial resistance of $45.00 separats the coin from an extended upside move. Litecoin (LTC) is moving within a short-term downside bias after a failed attempt to settle above $44.00. The coin is trading at $43.95, mostly unchanged both since the start of the day and on a day-to-day basis, off the recent high reached at $44.65. Litecoin is the seventh largest digital asset with the current market value of $2.8 billion and an average daily trading volume of $1.5 billion. LTC/USD: Technical picture On the intraday charts,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
